The new owner of Crash Builders Enterprise had to register for VAT as he is expected to achieve a turnover of more than R 1 000 000 per annum. However, he is unsure how to treat different kinds of income and the applicable VAT and asked you for your advice.

TransactionsR

sales debetors760 000

cash sales490 000

service rendered for cash320 000

rent income from warehouse36 000

interest on fixed deposit15 000

settlement discount received2 200

credit losses10 000

fuel expenses7 980

All amounts include VAT at 15% where applicable

REQUIRED You are required to calculate the VAT for each of these transactions.

Note: Round of the nearest Rand